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Board approves FY25 financial report, grants easement for campus water line and ratifies policy changes
Summary
The Missouri Western State University Board of Governors approved an unaudited FY25 financial report noting a larger-than-expected deficit driven by personnel costs and reduced housing revenue, granted Missouri American Water a campus easement, and ratified a new alcohol policy following committee recommendations.
The Missouri Western State University Board of Governors on Aug. 28 approved the personnel, finance and operations committee’s unaudited fiscal‑year 2025 financial report and granted a request from Missouri American Water to install a new water line across campus.
Vice President Daniel Hull presented the committee’s financial summary, saying the university recorded $30,871,221 in tuition and fees (97.8% of target) and total revenues of $46,150,855 but finished FY25 with an operating position worse than planned — a deficit Hull described as roughly $2.6 million — largely because of higher personnel costs and lower housing occupancy. Hull attributed overspending on salary and compensation (about 102.4% to budget) to stronger-than-expected retention, strategic hiring and approved compensation adjustments, and said medical premiums rose about 13% in calendar 2025, contributing roughly $500,000 to costs. He also noted higher pension/MOSERS contribution rates and an elevated fringe rate (about 42% for FY25, projected at 44% for FY26).
Hull cautioned that the figures he reported were unaudited; the external audit field work was expected to begin in the coming weeks. He emphasized that, while supplies, travel and utilities remained under budget, the personnel and fringe increases drove the year’s negative variance. On cash, Hull said the university held roughly $8.65 million on June 30 but that typical year‑end timing produced short‑term volatility in July.
After discussion, the board unanimously approved the financial report as presented.
The board then considered an easement request from Missouri American Water to run a water line under I‑29 and McCarthy Drive across university property. The easement plat was included in the board materials and the personnel, finance and operations committee recommended board approval. The governors approved the easement by voice vote.
In other formal actions, the board ratified an August 12 poll vote adopting a campus 'Alcohol on University Grounds and at University‑Sponsored Events' policy and later approved an amendment to the board bylaws governing committees and consultants following the required 30‑day review period. The meeting concluded with a voice vote to close the public session pursuant to Missouri Revised Statute 610.021 for a statutory closed session.
